BOULDER — Element Properties, with Pinkard Construction and Sopher Sparn Architects, celebrated the grand opening of SPARKwest, Element Properties’ 45-unit permanently affordable multifamily flats and townhomes project in Boulder.
On Wednesday, May 9, grand opening festivities included a ribbon cutting and facility tours with remarks from Kurt Firnhaber, the City of Boulder’s deputy director of housing.
“Not only is SPARKwest filling an urgent need for affordable housing in Boulder, it is also demonstrating how thoughtfully designed affordable housing developments can contribute to the City of Boulder’s goals around housing, sustainability, equity, climate change and transportation. We need more housing developments that help us address our housing shortage and bring numerous other community benefits,” said Firnhaber.
SPARKwest is designed for families and is the first completion within the greater S’PARK development, an 11-acre mixed-use, mixed-income area within Boulder Junction, which is a transit-oriented redevelopment project covering 160 acres surrounding Pearl Parkway just east of 30th Street. The SPARKwest units will be leased at 50 percent and 60 percent of Boulder’s Area Median Income.
SPARKwest is comprised primarily of two-story townhouse units with flats at the corners. The wood- framed development features brick, stucco, metal and cedar siding with permeable pavers for water quality control and ample bicycle storage.
Funding for SPARKwest includes soft debt from the City of Boulder, 4 percent federal Low Income Housing Tax Credits (LIHTC) and Colorado state LIHTCs. In addition, proceeds from the sale of tax-exempt bonds issued by CHFA have provided the project’s construction and permanent debt financing. SPARKwest was completed in March 2018.
S’PARK – short for Sutherland Park – is at the former site of Sutherlands Lumber Yard.
Photo courtesy of Pinkard Construction
